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Title: Will an address with Dust be able to be used when we get LN ? Post by: calkob on March 10, 2017, 06:53:10 PM So i was wondering, at the minute i have some addresses with less than $1. when we get LN will we be able to just use the address on some sort of Lightning client or do you have to move the bitcoin to a LN address first ? i sort of understand LN but not to sure how the fine details work.
Title: Re: Will an address with Dust be able to be used when we get LN ? Post by: AngryDwarf on March 10, 2017, 07:00:59 PM My understanding is that you need to move these UTXO's from the native key to a segwit key in order for it to be usable on LN. But it is really up to someone more knowledgeable about LN to say how it works.
Unfortunately, there are some people who have a school of thought that your unspendable UTXO should be used to accelerate bitcoin money supply deflation to increase the value for those who have bigger UTXO's. Title: Re: Will an address with Dust be able to be used when we get LN ? Post by: d5000 on March 10, 2017, 08:41:55 PM The important thing is that you will have to do at least one transaction to open a payment channel.
So if you want to use LN with your "dusty" addresses, I think the most rational thing is to try to spot a low-transaction-volume point in time (e.g. holidays, weekends) and try to do a "bundling" transaction (all these dusty inputs to one output) with low fee at this point - as early as possible, as fees seem to rise continuously. Try it several times if your first intent doesn't get confirmed. You can also wait and speculate about a possible block size increase in the near future where you would have more chances to get this transaction through, but it looks uncertain at this moment if it will happen. |